Bond Clauses: Beware the Deadlines!

KVV Inc Attorneys

Published on: 04/03/2025

buyer's failure to secure bond approval by the deadline, even with a seemingly agreed-upon extension (that wasn't in writing as required), invalidated the sale. Despite later attempts to waive the bond clause, the sale was already void. The buyer got their deposit back, while the seller faced losses. Sellers: ensure written extensions. Buyers: diligently pursue financing to avoid losing your deposit.